Half of firms 'failing on modern slavery reporting'

24 April 2018

More than half of UK firms are falling behind when it comes to complying with the Modern Slavery Act (MSA), according to TISCreport.

TISCreport’s figures show that 50.8% of organisations (9,627 out of 18,939) that should have complied by now still have no locatable statements on modern slavery policies for the new financial year.

This represents a slight increase on September 2017 when 50.6% of companies had failed to create statements at a similar point in time.

TISCreport tracks websites of companies and groups with turnover over £36m, the threshold at which the MSA applies, as well as recording voluntary compliance from organisations below the threshold.

It automatically alerts companies that are overdue that they need to take action where social media or email contact details are available. 

Jaya Chakrabarti, CEO of TISCreport, said he believed it was the only live platform capable of proving non-compliance of individual financial entities.

“We’ve built our system to enable procurers to quickly check their supply chains for compliance, partial compliance and non-compliance,” he said.

TISCreport is funded through subscription fees, 50% of which go directly to anti-slavery charity Unseen, which runs the UK Modern Slavery Helpline.

The report’s dataset is continually being updated, and it said there were now 917 UK public bodies within the system.

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